Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Business Acquisitions (Tables)

v3.20.1
Business Acquisitions (Tables)
12 Months Ended
Dec. 31, 2019
Business Combinations [Abstract]  
Summary of Identifiable Assets Acquired and Liabilities Assumed in Connection with Acquisition A summary of identifiable assets acquired and liabilities assumed in connection with the acquisition is as follows:

 

 

 

RMB

 

Purchase consideration:

 

  

 

Cash

 

91,126,055

 

Fair value of 9,360,000 ordinary shares

 

76,868,663

 

 

 

167,994,718

 

 

 

 

 

Recognized amounts of identifiable assets acquired and liabilities assumed:

 

 

 

Cash

 

36,785,802

 

Prepaid expenses and other current assets

 

26,333,563

 

Long-term investments

 

157,850

 

Property and equipment, net

 

8,505,683

 

Intangible assets

 

 

Trademark

 

79,000,000

 

Non-compete arrangements

 

56,000,000

 

Order backlogs

 

4,000,000

 

Other non-current assets 

 

881,926

 

Right-of-use assets

 

32,089,416

 

Deferred revenues

 

(163,400,000)

 

Short-term loan

 

(13,991,000)

 

Lease liabilities-current

 

(18,728,346)

 

Deferred income tax liabilities

 

(45,659,880)

 

Accrued expense and other payables

 

(14,326,672)

 

Other non-current liabilities

 

(13,361,070)

 

Total identifiable assets acquired and liabilities assumed

 

(25,712,728)

 

Fair value of non-redeemable non-controlling interests in Huanqiuyimeng

 

(6,771,349)

 

Goodwill

 

200,478,795

 

 

Summarized Unaudited Pro Forma Results of Operations

The following summarized unaudited pro forma results of operations for the years ended December 31, 2018 and 2019 assuming that the acquisition of Huanqiuyimeng occurred as of January 1, 2018. The unaudited pro forma financial information is supplemental information only and is not necessarily indicative of the results of operations which actually would have been had the acquisitions occurred as of January 1, 2018, nor is it indicative of future operating results.

 

 

 

 

For the years ended December 31,

 

 

2018

 

2019

 

 

RMB

 

RMB

 

 

(Unaudited)

 

(Unaudited)

Pro forma net revenues

 

105,071,457  

 

201,416,606  

Pro forma net income (loss) attributable to ATA Creativity Global

 

757,139,789  

 

(174,265,822)